It is possible that American expatriates living in the Gulf could have their passports revoked next month if they fail to comply with their tax and financial obligations under the Foreign Account Tax Compliance Act (FATCA), an expert has warned.

The UAE’s Ministry of Finance (MoF) has launched the UAE Foreign Account Tax Compliance Act (Fatca) Guidance Notes along with the Registration Form for entities to access the Fatca reporting portal on its website.
It is a pa

The UAE Ministry of Finance (MoF) said it has signed the intergovernmental agreement with the US on the Foreign Account Tax Compliance Act (Fatca) as part of its measures to protect Emirati financial institutions.
The Fatca was en

The UAE and the US have reached a deal in substance to include the UAE on the list of jurisdictions to be treated as having an Intergovernmental Agreement (IGA) in substance.
It seeks to reduce the burden of th

The UAE and the US have reached a deal in substance to include the UAE on the list of jurisdictions to be treated as having an Intergovernmental Agreement (IGA) in substance.
It seeks to reduce the burden of th

The US is planning is new law aimed at American taxpayers who hold unreported foreign financial assets, according to a report.
Expatriates in the US who have accounts with financial institutions in the GCC will face a broad-based

The Organisation for Economic Co-operation and Development has (OECD) unveiled new plans to tackle tax evasion by improving the way tax authorities share information about individuals and entities like trusts.
Countries are increa

A banking summit in Qatar will discuss new financial regulations and key initiatives that will facilitate growth in the banking sector and put the country on the road to becoming the region’s financial hub.
The Meed Qatar Ba

Asar - Al Ruwayeh & Partners, a leading corporate law firm in Kuwait, hosted a seminar to discuss the implications of the Foreign Account Tax Compliance Act (Fatca) in the country.
The event was held at the JW Marriott Hotel a